VRCITY Token
The digital currency or token used in VR City is the VR City Token (ticker VRCITY), which runs on the Polygon Network.
The token is a proof of stake utility token with governance rights and staking features, used in the VR City platform to pay for goods and services.
The VRCITY Token uses the Bancor protocol and an IBCO model to govern its emission. The emission of tokens is uniquely determined by market demand. The funds invested in VRCITY token are locked into the token smart contract and cannot be liquidated. This guarantees the stability and fairness of our token and transparency for our community.Â
The VRC Token has the following features inside the VR City Ecosystem:
Governance and voting rights
Pay for transaction fees
Buy, sell or rent Land plots
Staking and earning interest
Buy and sell virtual goods, products or spaces on the platform
VRCITY Token IBCO
The VRCITY Token, is deployed on the Polygon blockchain following the Initial Bonding Curve Offering model, because of its properties designed to protect token holders, investors in the project and the token price stability.
The Token IBCO is designed following the principles of the Bancor Protocol. This is being adopted to ensure stability and liquidity of the token and maintain its value in time, while guaranteeing investors that their money is not taken and the project not delivered. This is because in our IBCO model, the money invested is not spent, but it is locked in a collateral stable coin fund in USDC, to guarantee the value and stability of our VRCITY Token.
VRCITY Token smart contract address on the Polygon blockchain: 0xCe2FCEBDFbDf9bD211936EB6b945d163702d28Ef
See the VRCITY Token on Polygonscan
